More homeowners paid their mortgages on time in the third quarter of 2014 compared to the third quarter of 2013, according to the national consumer data firm TransUnion.
TransUnion reported in its latest mortgage report the percentage of borrowers at least 60 days late fell for the 11th straight quarter to 3.36% as of Sept. 30. The mortgage delinquency rate has declined nearly 17% in the last year (down from 4.03% in Q3 2013), the firm said.
Some of the nations largest markets saw the biggest drops, TransUnion said.
Between Q3 2013 and Q3 2014, Miami (-31.6%), San Francisco (-28.6%), Phoenix (-27.1%) and Los Angeles (-24.2%) experienced major improvements in delinquency....